Loans

Whatever loan you want, whether for a new car, an extension to your house or to pay for a foreign holiday, it's important that you get the right kind of loan for your circumstances. Getting a loan can be a quick fix way of raising money for what you want now, but it is important that you size up the risks and don't borrow more than you can afford to pay back.

Secured loans are usually available to homeowners and are secured against your property like a mortgage. If you default you can lose your home, but these usually offer the lowest rate of interest.

Unsecured loans are not secured against your property and so are available for non property owners such as Council or housing Association tenants. These usually have higher rates of interest.

You can still get a loan if you have a CCJ (County Court Judgement) or are for some other reason a 'poor risk'. However, be prepared that some companies may make their loans look attractive, they can have extremely high rates of interest.

In some instances, it makes much more sense to save for want you want rather than take out a loan.

Interest Free loans are sometimes offered by shops. Read the small print carefully, ensure that you do not default (these loans can have hefty penalties) and do not take out the insurance they offer you.

Take a look: MoneyBack Bank

Use our loan search tool